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Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
2020 was a difficult year for the world’s refineries as the coronavirus pandemic reduced refinery utilisation and OPEC+ supply restraint narrowed crude price differentials. Despite this, integrated refinery and petrochemical sites significantly outperformed their fuels-only peers, according to Wood Mackenzie.
War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway.
Waste-based biofuels could be a key driver of the energy transition transforming today’s limited supply of low carbon transportation fuels and creating a local, circular economy, according to a new report by Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
Higher base chemicals demand and feedstock security for heavy naphtha are driving the development of a new wave of mega-integrated refinery and chemical sites in China. Private Chinese chemical producers, including Hengli and Rong Sheng, are back-integrating their chemical plants with refineries by building mega-integrated facilities. Wood Mackenzie expects these projects to come on stream in the next 12 to 24 months.
A high carbon tax could erode up to 60% of Asia’s total refining earnings by 2027, says Wood Mackenzie, at the Global Energy Summit Focus Week.
A new report from Wood Mackenzie shows that olefins production losses in Asia have reached historical highs as a result of regional lockdowns in the wake of the coronavirus outbreak.
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